Best time to buy a car

[moneybags]

When do you think the best time to buy a car is?

[irmanator]

I usually wait till mine falls apart.....

[kork13]

If you mean time of year, I believe that the best time is in the late fall/winter, when dealerships are getting in the next model year's cars, and they're looking to unload all of the previous year's models. It's not a sure thing, but a general sort of trend...

[disneysteve]

The best time is when the one you have is no longer serving it's purpose and you have the money to replace it. If you are buying new for some reason, which I don't recommend, kork13 has a point about buying leftover models at the end of the model year. When the new models come out is also a good time to buy certified used cars as that's when a lot of cars tend to be coming off leases and getting replaced.

[moneybags]

Clarification: I am considering getting a 3rd car when DD turns 16 in April. We could buy the car now or wait.

[LuxLiving]

Why tie up the money now? April will have it's share of folks in doing trade-ins w/their tax returns to warrant waiting and buying a good reliable used car.

[bigredmachine05]

Know the car you want, e-mail the 30 closest dealers telling them what you want and ask them the otd price when you write them a check or the monthly payment if the financing is low. If they don't give you the info, ignore that dealers e-mail and move on to the next one. I bought my new car this way and it was very easy.

[snafu]

Prior to the auto industry meltdown...The best time to buy a used car was near the end of the month when salesmen/dealerships are desperate to meet their quota. Is that still valid?

[LivingAlmostLarge]

When you have the money to do it.

[amarowsky]

I am in a situation where my old truck just died beyond financially efficient recovery. So I am looking too. Personally I think right now GM products that are out of leases or were traded in that are generally 2-5 years old are the best buy right now.
For the following reasons
1. They're usually at about 50% or less of their original new price
2. They are still under warranty
3. You don't have nearly the hassle of dealing w/ private sellers
4. You can usually get vehicles at lower than 30k miles so you still have tens of thousands of miles before any of the beginning costly routine maintenance issues begin to arise.
5. Because the vehicle is new you don't have to worry about IF the vehicle was maintained because it simply does not have the opportunity to NOT be maintained due to it's age.

I do completely agree that unless your disposable income is equal to or greater than "rich as hell" you should NOT buy a new car. New car's are so very close to the worst investment you can make unless you don't drive the car, pay in cash, and somehow 30 years down the line it's worth five times what you paid for it. But most people don't have the time, space, money, and balls to make that horrible gambit.

[Saving_spree]

Anytime is fine as long as you can afford it.

[wincrasher]

Always go with quality, it's cheaper in the long run.

Yes, you can go cheap upfront, but end up with hits on depreciation or maintenance/repairs later.

The market knows what you paid - year end close-outs and desperate rebate programs - those hammer the value of what you bought. It will be interesting to note if "cash for clunkers" has done anything to the resale values for 2009 models. Athough I suspect that across the board, residuals for '09 models will be pretty poor because of all the programs.

You'd be smart to keep an eye on fuel economy for whatever you buy. The oil cartels and the speculators are still trying to recaputure those heady days of $4 gas.

[lovcom]

1. The best time to buy a car is when you have the cash. Oh, you don't have $24,000 for the mid level Camry? No worries, get the $14,000 Corolla instead. If you have to finance the car, you probably can't afford it.

2. Depreciation is not really a concern if one keeps the new car for it's entire life.

3. Don't buy a used car if you can help it. You don't know how it was treated by the prior owner/s, and even if it has low milage (under 30,000 miles) that is still enough miles of neglect to cause you, the new owner problems down the road, and curtail the engine's longevity.

4. When you buy transportation, you are buying MILES more then just a car. So if you are wise then you will buy 250,000 to 300,000 miles of transportation, and this means go for a new and only a new car if you can. You might think "what about depreciation?"...this is a non-issue if you keep the car for it's entire life, and since it is not used, you have no fear of how bad the prior owner/s neglected the car. Returned leased cars are a horrible choice becaues leased cars are notorious for not being maintained by the book...stay clear of returned leased cars. Don'et get hung up on depreciation....if you are smart you'll plan wisely and get a car that you can keep for it's entire life, so depreciation is irrelevent.

5. Buy a new small gas sipping car with a very low cost of ownership: Toyota Yaris is the king here, the Corolla is very good too, so are several Honda cars. Any of these cars can easily go 250,000 to 300,000 miles if you maintain them by the book. If you can stay clear of any and all used cars, and for the reasons I listed.

[nmboone]

My Honda Civic was not only 4 years used, but a previously leased vehicle, and besides a few minor things (rubber front bumper falling off ($10), fabric on door ($10) and battery ($75) nothing major has gone wrong. I love it!

[corporate Gifts]

Depending on the coverages you currently have on any existing vehicles, those coverages will extend to the vehicle for 5-30 days depending on your state and of course coverages. That means you would be covered until you bind the vehicle at your local insurance agent's office. Once you take possession of the vehicle, you can always call your insurance company, and they can extend the coverage over the phone. It's a simple process really.